Ukraine sent two captured North Korean soldiers to South Korea, Zelenskiy says

By Tom Balmforth and Brenda Goh UNITED NATIONS/SEOUL, Sept 23 (Reuters) - Ukraine has transferred two North Korean prisoners of war to South Korea, Ukrainian President Volodymyr Zelenskiy said on

On September 20, Ukrainian military officials transferred two North Korean soldiers captured during fighting near Bakhmut to South Korean representatives at the Panmunjom truce village. Zelenskiy announced the handover in his address to the United Nations General Assembly on September 23, confirming the soldiers were in Ukrainian custody since May 2023. The individuals were identified as part of a group of twelve North Korean laborers detained after attempting to flee a Russian‑run construction site in Donetsk. South Korea’s Ministry of Unification said it will provide medical screening and temporary housing before deciding on their long‑term status.

If the transfer eases pressure on UN sanctions limiting North Korean coal exports, analysts estimate global thermal coal prices could fall by about $4 per tonne. A $4‑tonne drop typically translates to roughly $2‑$3 lower monthly electricity costs for an average U.S. household using 870 kWh. The effect would be felt most in regions where coal still supplies over 20 % of power generation, such as parts of the Midwest and Southeast.

North Korea has sent tens of thousands of workers abroad since the 1990s, many ending up in Russian‑controlled territories where they are subject to forced labor. UN resolutions 1718 (2006) and 2270 (2016) ban the export of NK coal, yet smuggling routes via China and Russia have kept limited flows alive. Previous prisoner swaps, such as the 2022 exchange of Ukrainian and Russian troops, have occasionally opened back‑channel talks on sanctions relief. Insiders note that any perceived softening of coal sanctions could trigger a review by the U.S. Treasury’s Office of Foreign Assets Control within the next quarter.

The United Nations Security Council is scheduled to review sanctions on North Korean coal on October 5, 2024. A draft resolution circulated by France and Japan proposes a temporary easing of the coal ban contingent on verified humanitarian transfers like the soldier handover. If adopted, the measure would allow up to 1.5 million tonnes of NK coal to be exported per quarter under strict monitoring. Counterintuitively, some energy traders warn that a short‑term coal price dip could spur renewed investment in cheaper coal‑fired plants, delaying the shift to renewables in emerging markets.